war risk clause (2024)

FAQs

War risk clause? ›

A war risk clause is an exclusionary clause eliminating coverage for losses arising out of war or warlike actions.

Most time charter parties include a war risks clause. The purpose of these clauses is twofold; to allow Owners to avoid areas and ports exposed to war risks and to the extent the Owners accept to proceed into an affected area; allow the Owners to claim the cost of additional insurance, crew bonuses and wages.

Chevron War Risk : Any increase of hull and machinery war risk premiums over and above those in effect as on the date of this Charter Party, will be for Charterer's account.

This new clause addresses war risk insurance and, per AIMU wording, “excludes loss, damage, liability, or expense arising from the outbreak of war (whether there be a declaration of war or not) between any of the following: United States of America, United Kingdom, France, the Russian Federation, the People's Republic ...

The Flag State of any Mortgaged Ship becomes involved in war (whether or not declared) or civil war or is occupied by another power by unconstitutional means and such event or circ*mstance, in the reasonable opinion of the Agent, materially prejudices any Security Interest.

War risk insurance is an insurance policy that provides financial protection to the policyholder against losses from events such as invasions, insurrections, riots, strikes, revolutions, military coups, and terrorism.

A war exclusion clause in an insurance policy specifically excludes coverage for acts of war, such as invasions, insurrections, revolutions, military coups, and terrorism.

: a clause included in some life insurance policies issued during wartime that limits the insurer's liability to a return of premiums if the insured dies as a result of war or while serving in the military or naval services outside the home area.

Passive War cover is excluded if an insured person is permanently assigned to a country after war has been declared in that country or after it has been recognized as a war zone by the United Nations or where there are warlike operations.

Article I, Section 8, Clause 11: [The Congress shall have Power . . . ] To declare War, grant Letters of Marque and Reprisal, and make Rules concerning Captures on Land and Water; . . .

What does no war clause mean? ›

Article 9 of the Japanese Constitution contains “No war” clause. It came into effect on May 3, 1947, immediately after World War II. The text of the article of the Japanese Government formally renounce war as a right of sovereignty and the refuses to settle disputes using military force.

The most common clauses included in a charter party are: bunker clause, ship clause, ice clause, lighterage clause, negligence clause, ready berth clause, loading and unloading time, and liability clause.

Under strikes clause, if the strike occurs during loading, parties has right to order the ship to proceed to an alternative port. If the charterer nominates a port where a strike occurs the shipowner may indicate in the charter-party that the time lost will be treated as counting towards the estimation of laytime.

A contract for the hire or lease of a vessel (such as a ship or aircraft) made between the vessel owner and a charterer. A vessel can be rented in full or in part, either for specified voyages (a voyage charter) or for a defined period (a time charter).

However, when a clause paramount incorporates the HV Rules into a charterparty, ship owners are only in breach of their duty if they fail, for example, to exercise due diligence to make the ship seaworthy before and at the beginning of the voyage.